DeFi threshold is high Will DeFi+CeFi one-stop aggregation platform be the future trend?

There is no doubt that AMM and liquidity mining are the two key mechanisms for DeFi to become popular in mid-2020. They have greatly promoted the explosion of DeFi. For example, in the DEX segment, the daily trading volume of Uniswap is close to that of Coinbase and other first-tier centralized exchanges (CEX). Yes, DeFi has countless advantages, such as no license, no KYC/AML, fairer token distribution, etc. But it has to be admitted that DeFi still has some shortcomings, such as high user threshold, inability to place orders, impermanent losses, and high gas fees. Moreover, one-stop service is a strong demand of users, and one-stop DeFi wallet services such as Debank and Zapper have been born in the DeFi field. Although the total lock-up value of DeFi has reached 10 billion US dollars, the vast majority of users, funds and transactions are still in CeFi. Will there be a one-stop aggregation platform that further includes DeFi and CeFi users? There are already such attempts. Finxflo is such a DeFi+CeFi one-stop aggregation platform. Only need to register an account in Finxflo, using Finxflo's algorithm and aggregator protocol, users can cross multiple centralized exchanges and DeFi fund pools under the Finxflo platform, buy and sell cryptocurrencies at the best price, no longer need to trade in multiple Trading platform, wallet switching. Finxflo has launched the demo version and has reached cooperation with more than 25 exchanges to provide users with the best market depth and liquidity. In addition, in terms of security, Finxflo adopts a custody service solution, cooperates with the advanced custody service provider Fireblocks, and purchases insurance for all custody assets. In terms of compliance, the Finxflo entity is regulated by the Monetary Authority of Singapore (MAS). VR and DeFi market Highstreet completes strategic round of financing: On October 14, VR and DeFi market Highstreet completed a strategic round of financing, led by Binance Labs and Animoca Brands. It is reported that as part of the investment, Highstreet is building Binance Beach in its metaverse market. By integrating the functions built on BSC, Highstreet will demonstrate a new way of presenting DeFi applications in the metaverse scene, and any brand or platform can extend its services to its users. Animoca Brands will expand its presence in the Metaverse by bringing its many brands into the Highstreet world. (Cointelegraph) [2021/10/14 20:29:40] Why launch Finxflo? What do you think of DeFi liquidity mining? On these issues, Jinse Finance recently interviewed James Gillingham, CEO of Finxflo. James Gillingham said that the goal of Finxflo is to solve one of the biggest problems faced by many traders today, which is to find the best agreement or fund pool transaction across multiple platforms, so as to create a trading environment that provides traders with cross-exchange and agreement best price. Let traders find the best buying or selling price in the liquidity pool of CeFi exchange and DeFi protocol through one platform. James Gillingham believes that an important reason for the popularity of DeFi is the token distribution mechanism of liquidity mining introduced by Compound. He took Compound as an example to illustrate liquidity mining. When Yield farmers provide liquidity, new tokens can be distributed. Use the Compound platform to generate more interest, increase the value of tokens, and generate a positive cycle to attract more users. CoinW will launch JST in the DeFi zone at 18:00 on September 29: According to official news, CoinW will launch JST in the DeFi zone at 18:00 on September 29. It is reported that the goal of JST is to establish a fair decentralized financial system that provides stable currency lending and governance mechanisms for all users around the world. JST is a dual token system. USDJ, a stablecoin pegged 1:1 to the U.S. dollar, is generated by mortgaging TRX on JST's CDP lending platform. JST is part of the USDJ currency system. Holding JST can participate in the fair governance of the community and pay the stability fee of CDP borrowing under a fair system. [2020/9/29] In the interview, James Gillingham also talked about his views on China's blockchain development. He spoke highly of China's blockchain development, especially BSN and the central bank's DC/EP. He said that BSN is the most impressive. BSN is a world-first, state-backed blockchain initiative, and plans to integrate with major public chains such as Tezos, NEO, Nervos, IRISnet, Ethereum and EOS , with global influence. Regarding DC/EP, he said that China is very close to realizing the widespread use of CBDC, and the challenge now is to find as many practical use cases for DC/EP as possible. China is far ahead in the adoption of blockchain technology at the national level and the introduction of CBDC. For more exciting content, please see the interview record: Golden Finance: Since the DeFi community adopted liquidity mining and Yield farming in June 2020, various indicators of DeFi have been soaring. DeFi tokens that have increased by dozens of times have emerged frequently; the locked-up volume of DeFi has reached 6 billion US dollars; the transaction volume of DEX has also surged. What do you think of the recent popularity of DeFi? Why did DeFi explode? Biying has launched RPE in the DEFI zone at 14:00 on July 18: According to official news, Biying has launched RPE in the DEFI zone at 14:00 on July 18, and opened the RPE/USDT trading pair; it is reported that Augur is A decentralized prediction market platform based on Ethereum blockchain technology. Users can use digital currency to make predictions and bets, and rely on the wisdom of the masses to predict the development of events, which can effectively eliminate the risks of counterparties and centralization of servers, and at the same time use cryptocurrencies (such as Bitcoin) to create a global sex market. [2020/7/18]James Gillingham: An important reason for the popularity of DeFi is that the DeFi lending protocol Compound has introduced a new token distribution mechanism. Compound rewards liquidity providers through COMP, which is the governance token of the Compound platform, and token holders can vote on issues related to Compound. In mid-June, Compound’s total value locked (TVL) was around $100 million, but it had grown to over $770 million just one month later, and the total value locked is now over $4 billion. This clearly shows the strong interest of investors in DeFi. In addition to providing governance tokens, yield farming also enables investors to move assets within Compound, chasing the pool of funds that offers the best yield (often higher than bank rates), depending on available arbitrage opportunities. Liquidity mining provides the project side with additional startup power, because when Yield farmers provide liquidity, new tokens can be distributed. Using the Compound platform generates more interest and the token value increases, which creates a positive cycle that attracts more users. MXC Matcha has launched DeFi index products and opened USDT trading: Official announcement, MXC Matcha has launched DeFi index products and opened USDT trading at 18:20 on June 2 (today). Users can log in to the official website of MXC Matcha Web, and select "Index Trading" in the "Coin Trading" area to trade. The composition of the DeFi index is KNC, ZRX, KAVA, NEST. MXC Matcha Index products now include mainstream currency combination index, halving combination index, domestic public chain combination index and DeFi combination index. The weight of the asset target in each composite index product in the index will be distributed according to the proportion of the target’s average daily trading volume in the previous month. Please read the relevant announcement for details. [2020/6/2] Golden Finance: The current annualized income of liquidity mining is very high, is it sustainable? James Gillingham: It depends. Yields will be sustainable if some of the current negative factors are addressed. With so many protocols competing to hit the market so far, smart contracts and security can be problematic. Therefore, it is important to conduct a thorough audit of the code to minimize the risk of backdoors. If developers can overcome this problem, it will reduce the possibility of hacking, which in turn will make the increase in yield more sustainable in the long run. Jinse Finance: In addition to DEX and oracles, DeFi aggregators are also on the rise. For example, the price of YFI once surpassed that of Bitcoin. According to reports, Finxflo is an aggregator of DeFi and CeFi. Please introduce the Finxflo platform first? Why did Finxflo choose to do this? James Gillingham: Finxflo is the world's first aggregator combining DeFi and CeFi. We provide our clients with access to dual blockchains, a feature that is currently not offered anywhere else. Typically, blockchains are single-chain in nature and you cannot transact/swap across various blockchains. With Finxflo, we can provide users with accessibility from Tron to Ethereum. News | ConsenSys launches DeFi commercial application product suite: According to official news, ConsenSys announced the launch of DeFi commercial application product suite Codefi. [2019/9/15] The goal of Finxflo is to solve one of the biggest problems faced by many traders today, which is to find the best agreement/capital pool transaction across multiple platforms, thereby creating a trading environment that provides traders with cross-exchange and the best price agreed upon. When it comes to security, Finxflo has partnered with Fireblocks, a state-of-the-art hosting provider. In DeFi, when users log in with their own wallets, there is usually no need for real asset custody. Finxflo offers clients the option of integrating into hosting solutions. Finxflo will also focus on conducting additional analysis/due diligence on the underlying protocol and will complete smart contract audits to ensure code security. Finxflo's transparency and fairness are also key factors that differentiate us. Finxflo's smart order routing algorithm helps traders find the best buy or sell prices in the liquidity pools of those CeFi exchanges and DeFi protocols through one platform. Jinse Finance: Other public chains are also entering DeFi, such as Tron, EOS, etc. What do you think? James Gillingham: Entering the DeFI field will definitely arouse strong interest in the public chain. As you know, Finxflo also recently announced its cooperation with Justswap and Tron to jointly develop the world's first DeFi protocol aggregator. Given that the total locked value exceeded $3 billion less than a month after reaching $2 billion, it is not surprising that TRON expanded its business into DeFi. We expect the industry to grow significantly in the coming months as blockchain companies seek to develop a DeFi ecosystem spanning decentralized lending, trading, and cross-chain. Jinse Finance: China attaches great importance to blockchain, and in 2019, blockchain technology will be positioned as a breakthrough in core technology. Recently, on August 10, the BSN launched by China launched an international version, supporting the six major public chains of Nervos, NEO, ETH, Tezos, EOS, and IRISnet. What do you think of BSN? James Gillingham: Of all the developments that have happened so far, China's recently launched Blockchain Service Network (BSN) seems the most impressive. I think this is tied to the Chinese government's plan to be the only online infrastructure provider for global blockchain companies. BSN cooperates with well-known companies such as China Mobile, UnionPay, Huobi, Google and Amazon AWS, and also extends to 7 regions outside China, including Paris, Sydney, Sao Paulo, Singapore, Tokyo, Johannesburg and California, which helps small businesses And individuals can easily take advantage of the blockchain without deploying a private blockchain network, while reducing the cost to about $260-$390 per year. Additionally, this will facilitate a higher level of interoperability and provide businesses with access to financial data from UnionPay, which is difficult for foreign blockchain companies to obtain and process. In other words, this marks a world-first state-backed blockchain initiative with global reach and integration with major public chains such as Tezos, NEO, Nervos, IRISnet, Ethereum and EOS integrate. Golden Finance: According to reports, China’s CBDC DC/EP has been tested internally in several cities, and the People’s Bank of China may be the first major central bank in the world to launch a CBDC. Why do you think China wants to promote DC/EP? What does that mean in the context of the trade war? James Gillingham: The benefits of DC/EP are manifold. A CBDC could solve the problem of money laundering, as it is too difficult to track cash flow (and reduce cash handling costs) in countries like China. In addition, it improves the convenience of traditional payments while transforming the financial system into a faster, more inclusive and efficient system. I do not look at the development of CBDC from the perspective of the Sino-US trade war. On the contrary, I think that both China and the United States recognize that the world is becoming more and more digital, and digital currency will play a key role in the development of the digital economy. Recently, we have seen the U.S. Senate hold hearings on the future of the digital dollar, and I think it is only a matter of time before the U.S. introduces a digital dollar. It is not yet possible to assert the impact of China's DC/EP on the digital dollar, because the initial scope of application of DC/EP is uncertain. Currently, DC/EP is being piloted by companies such as Starbucks and McDonald's (mainly from the retail and catering industry) in the Greater Bay Area and other parts of China. The application of DC/EP will involve major changes in taxation and bank settlement, and it will be mainly limited to the retail side, which is not much different from the current use of Alipay to pay for meals in China. Therefore, there is still a long way to go before seeing CBDCs like China’s DC/EP change the way cross-border transactions and B2B payments are made. However, China is still far ahead in the adoption of blockchain technology at the national level and the introduction of CBDC.

Tags：

SAND